Arch Capital Group Ltd. Jersey City , NJ 07097
The position reports to the AVP Premium Audit. This individual will be responsible for handling smaller, less complicated premium audits to start and then tackling larger, more complicated premium audits as the premium audit skills develop. A successful candidate will have 2-3 years of premium audit experience. The candidate will also have a desire to learn about the Arch specific business units and intricacies of these policies and the related exposures. The individual will be trained on how to read and interpret the coverages (Workers Compensation, General Liability, and Commercial Auto).
Arranging premium audit appointments with brokers and/or insureds.
Reading policies to determine exposure basis for each policy.
Communicating needed documentation for each audit and securing that documentation from the broker/insured.
Actively working in the NEXUS premium audit system to pick up and complete assigned audits.
Perform examination of policyholders' payroll, accounting and financial records to insure accurate calculation of earned premium for customers. Analyzes existing data, ISO rules, industry and statutory materials, and claims.
Insure that audited exposures (payroll, sales, cost, etc.) are accurately calculated within insurance manual guidelines.
Responsible for handling all disputes related to audits that the auditor completed.
Collaborate with underwriting personnel, agents and producers to answer questions about the audit process or results.
Assist with NEXUS system enhancements as needed.
Perform other premium audit related duties as required.
Bachelor's degree preferred. Concentration in Accounting, Finance or a related field is necessary.
2-3 years of premium auditing experience at either an insurance carrier or a premium audit vendor.
Minimum of 2 years prior premium audit experience;
Collaborative and team oriented;
Customer focused with attention to detail;
Self directed showing personal accountability and a sense of urgency;
Strong communication and organizational skills;